Galaxy Bearings Ltd — Updates, 24-05-2025: Company Update

Galaxy Bearings Limited has announced its Annual Secretarial Compliance Report for the financial year ended March 31, 2025, prepared by an independent company secretary. The report confirms overall adherence to required corporate governance practices and statutory provisions, with no disqualified directors or pending regulatory actions. However, the company faced a compliance lapse from February to April 2024 due to absence of a qualified Company Secretary as Compliance Officer, resulting in a penalty of ₹53,000 plus GST, which has been paid. There were no auditor resignations or related party transaction issues, and all disclosures and policies remain up to date and properly maintained.